State of Hawaii Investor Presentation slide image

State of Hawaii Investor Presentation

Lahaina Wildfire: Recent Developments The Known Costs of the Maui Wildfires on the State's Economy and Finances are Manageable STATE OF HAWAII The State's main objectives and priorities: During the initial response, provided for the well-being of and financial support for those affected Support and work with Maui County and its residents to develop and implement a restoration plan Maximize Federal and private resources for recovery Tourism metrics on Maui temporarily declined but have already started to see a recovery West Maui has fully re-opened as of November 1 Impacted employment represents less than 0.2% of statewide totals According to UHERO's current forecast, the wildfire is estimated to contribute to a 0.5% decline in GDP for CY 2023 and 2024, but influx of federal and private resources should support a 0.5% increase in GDP in CY 2025-2028 The State anticipates reimbursement by FEMA for most near term costs, however, it will be responsible for a share of certain costs, such as those related to debris clean up and non-congregate housing, among other costs - Overview of Impacted Area ThiEully operas funtil Noverbbe8122023 West Maui: 11,936* Kapalua Kahului/Wailuku: 617* WEST MAUI Napili Kapalua Airport NORTH SHORE MAUI Ka'anapali Kahului Airport Wailuku Kahului Pā'ia Makawao EAST MAUI CENTRAL MAUI Ma'alaea: 322* Kula UPCOUNTRY MAUI Kula/Makawao: 113* Häna Airport •Hāna Kihei •Haleakala National Park Hāna: 106* Impacted by wildfires. Lahaina HAWAII TOURISM Wailea/Kihei: 8,510* Wailea Mākena Number of Visitor Accommodations* SOUTH MAUI % of Region Population Hawaii Hawaii 1,455,271 100.0% 81,102 Maui Lahaina 154,100 12,702 10.6% 21,604 0.9% 487 MAU % of Hawaii 100.0% 26.6% 0.6% FEMA upfront support includes 100% of debris removal costs for six months, 100% of emergency protective measures (including non-congregate housing) for three months, and 90% of all other eligible costs within the Public Assistance Program including restoration of disaster damaged facilities The State will be responsible for no more than 10% of debris removal and emergency protective measures, after the 100% FEMA-paid period ends The State anticipates a significant amount of external funds over the long-term to mitigate local costs, including federal funding and private insurance 4 * Indicates number of units/rooms available for visitor accommodations.
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